World News

FACTBOX: Foreign oil investment in Gabon

(Reuters) - Oil producer Gabon’s elections are scheduled for August 30, although opposition candidates are calling for a three-month delay to allow for logistical preparations.

The West African coastal nation, ranked in the top 10 African oil producers with nearly 250,000 barrels of daily production, called the elections after long-serving President Omar Ben Bongo died in June.

Many analysts expect his son, Ali Ben Bongo, to succeed him as president, though more than a dozen other candidates are vying for the presidency.

Below is a list of major companies involved in Gabon’s oil industry as well as a ranked list of African oil producers.

*****************FOREIGN OIL OPS IN GABON********************

* Addax Petroleum Ownership interest in 10 Production Sharing Contracts, including five producing fields: Etame offshore, 35,000 bpd; Avouma offshore, 3,180 bpd; Ebouri offshore, 1,500 bpd; Tsiengui onshore, 18,110 bpd; Obangue onshore, 1,610 bpd

* Canadian Natural Resources Acquired Olowi offshore oil field in 2005 with first oil achieved in early 2009.

* Bowleven Holds 100 percent stake in the East Orovinyare offshore block and a 50 percent stake in the Epanaemo Block onshore. Both projects are under development.

* Perenco Produces 50,000 bpd of oil equivalent through 29 offshore and onshore licenses here

* Total Produces 76,500 bpd of crude oil from Gabon and is also pursuing various exploration and development projects.

* Tullow Has interests in 16 licenses in Gabon, including 12 producing fields accounting for 12,000 bpd in output.

* Vaalco Involved in exploration, development and production activities on offshore Etame, Avouma, South Tchibala, Ebouri fields, producing a total of 25,000 bpd.

* Oil India Limited Operator and 45 percent stakeholder in Shatki onshore field in Gabon, still in development.

*****************TOP 10 AFRICAN OIL PRODUCERS****************

Algeria 2.23 Nigeria 2.17 Angola 1.87 Libya 1.71 Egypt 0.60 Sudan 0.52 Equatorial Guinea 0.34 Gabon 0.25 Congo (Brazzaville) 0.23 South Africa 0.19 Total Africa 10.09

All figures reflect average 2008 crude oil output in millions of bpd, source U.S. Energy Information Administration